How to Fix Incorrect Starting Reconciliation Bank Balance in QuickBooks

Hello Ruth. Would you have a suggestion for me? When doing my bank recs I seem to have an on going problem ( 3rd rec) that the beginning balances do not match with bank statement so tried to correct it with the adjustment transaction after reconciling as they were only small amounts (example $1.30, .47,) but it still occurs.
If the beginning balance doesn’t match your bank statement on the next reconciliation and it did, but no longer, matches the ending balance on your previous bank statement, it means a reconciled transaction in QuickBooks was changed, deleted or voided. Even when a deleted transaction is re-entered, the beginning balance will change and the re-entered transaction will show up on Reconcile screen.

Check your Reconciliation Discrepancy report in Reports > Banking to see what changed. Unfortunately, this report is not available in Pro which is one of many reasons QuickBooks Premier or QuickBooks Enterprise is usually a better option for all but the most simple of businesses.

Unfortunately, if you need your QuickBooks reconciliations to match up to your bank statements, you’ll need to unreconcile until you get to a month where the beginning balances match and then re-reconcile. Hopefully you kept a copy of all your old reconciliation reports which will make this a lot easier. If you don’t care about them matching up, enter the missing transaction and check it off the current reconciliation screen.

This is the reason there are so many tricks for fixing errors without deleting and re-entering transactions. It’s also why Client Data Review is such an important breakthrough and one reason I recommend the Accountants edition of QuickBooks Premier and QuickBooks Enterprise.

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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

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2 Responses to How to Fix Incorrect Starting Reconciliation Bank Balance in QuickBooks

  • Hello,

    I instruct my clients that once the bank rec has been completed to use the password facility to not allow deletion of any transactions to be deleted/altered after the bank rec. This saves the issues you have. As Ruth points out, use the reconciliation discrepancy report to identify those changes post your reconciliation.

    • Hi John,

      Even if you set a closing date and password, you can still delete a transaction that’s been reconciled. You just have to enter your password before you can. But it’s definitely better than nothing.

      We train our clients to pay attention to all warnings QuickBooks gives them. When you try to delete a transaction that’s been reconciled, you get a warning, whether or not you’ve set a closing date. This is just one of many important warnings QuickBooks tries to give you so you don’t make a time-consuming (and often expensive) mistake. Unfortunately, most people are in a hurry and just click OK without reading them.